Abstract

Australia's Economic Demonstrated Resources (EDR) for the following 18 mineral commodities increased during 2008 - black coal, copper, gold, iron ore, lead, lithium, manganese ore, molybdenum, nickel, niobium, rare earth oxides, silver, tantalum, tungsten, uranium, vanadium, zinc and zircon. In the same period, EDR of nine commodities decreased - brown coal, cobalt, diamonds (gem and industrial), mineral sands (ilmenite and rutile), platinum group elements, shale oil and tin. EDR for antimony, bauxite, cadmium, magnesite, and phosphate rock remained at levels similar to those reported in 2007. World ranking: Australia's EDR of brown coal, mineral sands (rutile and zircon), nickel, silver, uranium, zinc and lead remain the world's largest, while antimony, bauxite, black coal, copper, gold, industrial diamond, iron ore, ilmenite, lithium, manganese ore, niobium, tantalum and vanadium all rank in the top six worldwide. Resource life: Ratios of accessible Economic Demonstrated Resources (AEDR) to current mine production provide indicative estimates of the resource life. AEDR of most of Australia's major commodities can sustain current rates of mine production for many decades. Resource life based on ore reserves is lower, reflecting a shorter term commercial outlook. Over the decade 1997 to 2008 there has been a significant trend towards lower AEDR/production ratio for coal and iron ore, which was the nett result of major increases in production and reassessment of resources. Commodities with resource life of less than 50 years are diamonds (about 10 years at current rates of production), manganese ore (20 years), gold (30 years), zinc (35 years) and lead (40 years). The severe world financial crisis in late 2008 highlighted the fact that a long resource life for a particular commodity is not a guarantee that such resources will continue to be exploited in Australia. In an increasingly globalised and competitive commodity market, multinational mining companies are continually in search of mineral deposits that will offer attractive returns on their investment. Such returns are influenced by the quality of the resources (grade and tonnage) as well as environmental, social and political factors, land access and even the location and scale of the competitor projects - individual mine projects in Australia will be ranked by multinational corporations against the investment returns from other deposits worldwide. Australia's continuing position as a premier mineral producer is dependent on continuing investment in exploration to locate high quality resources and/or to upgrade known deposits in order to make them competitive on the world market, and investment in beneficiation processes to improve metallurgical recoveries. Australia's Identified Mineral Resources 2009 provides information on and analysis of mineral exploration expenditures in Australia for the calendar year 2008. Trends in expenditure are presented and discussed.
Google map showing geographic bounding box with values North bound -9.0 East bound 156.0 West bound 110.0 South bound -44.0
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Product Type/Sub Type

dataset - GA Publication - Report

Constraints

license
Creative Commons Attribution 3.0 Australia Licence

IP Owner

Commonwealth of Australia (Geoscience Australia)

Author(s)

Date (publication)

2009

Product Type

dataset

Topic Category

geoscientificInformation

Keywords

GA Publication
Report
mineral deposits
resource assessment
geoscience
Earth Sciences

Resource Language

English

Resource Character Set

utf8

Resource Security Classification

unclassified

Geographic Extent

North bound
-9.0
East bound
156.0
West bound
110.0
South bound
-44.0

Lineage

Unknown

Digital Transfer Options

onLine

DISTRIBUTION Format

jpg
pdf

Distributor

Role
distributor
Organisation Name
Geoscience Australia
City
Canberra
Administrative Area
ACT
Postal Code
2601
Country
Australia
Email Address

Metadata File Identifier

a05f7892-ef33-7506-e044-00144fdd4fa6

Metadata Standard Name

ANZLIC Metadata Profile: An Australian/New Zealand Profile of AS/NZS ISO 19115:2005, Geographic information - Metadata

Metadata Standard Version

1.1

Metadata Date Stamp

2009-12-15

METADATA SECURITY CLASSIFICATION

unclassified

Metadata Contact

Role
pointOfContact
Organisation Name
Geoscience Australia
City
Canberra
Administrative Area
ACT
Postal Code
2601
Country
Australia
Email Address
Downloads
For information on acquiring this product,
please contact the Geoscience Australia Sales Centre via:

fax:
+61 2 6249 9960; or
phone:
1800 800 173 (within Australia);
 
+61 2 6249 9966 (outside Australia).

Please note that support hours are 9 am to 5 pm weekdays